Latest news with #RashidbinAliAlMansoori
Zawya
29-04-2025
- Business
- Zawya
Qatar: Aamal revenue up 6.8% to $159.42mln in Q1
Doha, Qatar: The Board of Directors of Aamal Company, one of the region's leading diversified companies, yesterday announced its financial results for the first quarter ended March 31, 2025. The company reported total revenue of QR580.3m up by by 6.8% (Q1 2024: QR 543.3m). The gross profit was down1.3% to QR128.7m (Q1 2024: QR130.4m) and the net profit attributable to Aamal equity holders up 8.3% to QR101.8m (Q1 2024: QR94.0m). Meanwhile the reported earnings per share increased 8.3% to QR0.016 (Q1 2024: QR0.015). The net capital expenditure declined 35.7% to QR6.6m (Q1 2024: QR10.3m). The gearing decreased to 0.9% (Q1 2024: 1.2%). Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, commented: 'I am pleased to reporta strong start to 2025 for Aamal with the Company achieving solid year-on-year revenue growth of 6.8% and an 8.3% rise in net profit. These results underscore the Company's sustained strategic delivery as it continues to adapt to changing market conditions and pursues promising growth avenues across its diversified and well positioned portfolio. 'The Trading and Distribution segment successfully carried its positive performance into 2025, with this being driven largely by strong organic growth at Ebn Sina Medical following the business module change. Aamal Trading was also successful in growing its market share and revenues on the back of sell out promotions and price increases on renewed service contacts. 'The performance of the Industrial Manufacturing segment continued to be mixed, with low levels of new construction activity resulting in subdued demand for Aamal Readymix and Aamal Cement, where revenue and net profit remained relatively flat year on year. Nevertheless, Senyaronce again benefited from the demand stemming from the Kaharama and North Field projects to further improve its healthy profitability while profitability at Aamal Maritime's was bolstered by improving shipping rates and stable occupancy.' Sheikh Mohamed bin Faisal Al Thani, Vice Chairman and Managing Director of Aamal, added: 'Overall, these are a positive set of first quarter results for Aamal, placing the Company on a strong footing as it looks to replicate the strong performance and successful strategic progress delivered in 2024. Looking ahead to the rest of the year, I am confident in Aamal's continued ability leverage our resilient and diversified business model to capture the abundant growth opportunities in both Qatar and the wider region. I would like to thank all Aamal employees for their efforts and contribution and look forward to driving continued value for all the Company's stakeholders'. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
28-04-2025
- Business
- Zawya
Aamal reports a solid start to 2025 and robust year-on-year growth
RELATED TOPICS EARNINGS RELATED COMPANIES Qatar Natl Bank Aamal MMS Qatar Folli - Follie Senyar Capital Doha - The Board of Directors of Aamal Company Q.P.S.C. ('Aamal'), one of the region's leading diversified companies, today announces its financial results for the first quarter ended 31 March 2025. Financial Highlights Total revenue up 6.8% to QAR 580.3m (Q1 2024: QAR 543.3m) Gross profit down 1.3% to QAR 128.7m (Q1 2024: QAR 130.4m) Net profit attributable to Aamal equity holders up 8.3% to QAR 101.8m (Q1 2024: QAR 94.0m) Reported earnings per share increased 8.3% to QAR 0.016(Q1 2024: QAR 0.015) Net capital expenditure declined 35.7% to QAR 6.6m (Q1 2024: QAR 10.3m Gearing decreased to 0.9% (Q1 2024: 1.2%) SUMMARY AND OUTLOOK Mr. Rashid bin Ali Al Mansoori, Chief Executive Officer of Aamal, commented: 'I am pleased to report a strong start to 2025 for Aamal with the Company achieving solid year-on-year revenue growth of 6.8% and an 8.3% rise in net profit. These results underscore the Company's sustained strategic delivery as it continues to adapt to changing market conditions and pursues promising growth avenues across its diversified and well positioned portfolio. 'The Trading and Distribution segment successfully carried its positive performance into 2025, with this being driven largely by strong organic growth at Ebn Sina Medical following the business module change. Aamal Trading was also successful in growing its market share and revenues on the back of sell out promotions and price increases on renewed service contacts. 'The performance of the Industrial Manufacturing segment continued to be mixed, with low levels of new construction activity resulting in subdued demand for Aamal Readymix and Aamal Cement, where revenue and net profit remained relatively flat year on year. Nevertheless, Senyar once again benefited from the demand stemming from the Kaharama and North Field projects to further improve its healthy profitability while profitability at Aamal Maritime's was bolstered by improving shipping rates and stable occupancy.' 'Our Property segment reported solid growth in revenue and net profit for the quarter highlighting the continued strong positioning of Aamal's commercial and residential property portfolio. At City Center Doha recent investment to enhance the shopping experience was rewarded with the signing of several new tenants and the signing of new lease agreements on more favorable financial terms. The performance of Aamal Real Estate meanwhile benefited from a slight increase in already high occupancy rates above the already high levels. 'Our Managed Services reported a marginal decline in revenue for the period coupled with flat year-on-year net profit. In particular, Maintenance Management Solutions recorded flat net profits. and a slight weakening in year-on-year revenue. This was largely attributable to the challenging comparables' generated by the completion of several ad hoc projects in Q1 2024. Elsewhere in the segment Family Entertainment Center leveraged effective marketing campaigns and facilities improvements to achieve a robust performance for the period while Aamal services performance has been stable compared Q1 2024. Sheikh Mohamed bin Faisal Al Thani, Vice Chairman and Managing Director of Aamal, added: ' Overall, these are a positive set of first quarter results for Aamal, placing the Company on a strong footing as it looks to replicate the strong performance and successful strategic progress delivered in 2024. Looking ahead to the rest of the year I am confident in Aamal's continued ability leverage our resilient and diversified business model to capture the abundant growth opportunities in both Qatar and the wider region. I would like to thank all Aamal employees for their efforts and contribution and look forward to driving continued value for all the Company's stakeholders' CONFERENCE CALL DETAILS A conference call to discuss the results will be held on 01 May 2025 at 2.00pm Doha time. The details for the conference call are as follows: Date: Thursday 01 May 2025 Time: 2.00pm Doha time ABOUT AAMAL COMPANY Q.P.S.C. Aamal is one of the Gulf region's most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 28 April 2025, the Company had a market capitalisation of QAR 5.34 bn (US$1.47 bn). Aamal's operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar's wider economic growth and development.
Zawya
09-04-2025
- Business
- Zawya
Qatar: Aamal's Ebn Sina Medical, BeiGene sign strategic partnership
Doha, Qatar: Ebn Sina Medical, a subsidiary of Aamal Company Q.P.S.C. and a leading supplier of pharmaceutical, hospital, and healthcare products in Qatar, has signed a strategic partnership with BeiGene, a global oncology company. The signing ceremony was attended by Aamal's CEO, Rashid bin Ali Al Mansoori, General Manager of Ebn Sina Medical, Dr. Essam Faragalla, and BeiGene's Mohammed Al Kapany, General Manger, Middle East and North Africa Region. Under this agreement, Ebn Sina Medical will serve as the local partner and distributor for BeiGene's range of oncology medicines, enhancing the availability of innovative oncology treatments in Qatar. This collaboration reflects Ebn Sina Medical's commitment to delivering high-quality medicinal products to the local market, benefiting healthcare providers and patients alike. Aamal Company CEO, Rashid bin Ali Al Mansoori, stated: 'This collaboration strengthens Qatar's medical sector by improving patient access to the latest oncology treatments. Ebn Sina Medical's strong market position makes it a trusted partner for renowned global pharmaceutical companies like BeiGene. I look forward to seeing the positive impact this partnership will have on healthcare in Qatar.' General Manager of Ebn Sina Medical, Essam Faragalla, added: 'Partnering with BeiGene marks an important step in expanding access to advanced oncology treatments in Qatar." "Our goal is to support healthcare professionals with the tools they need to improve patient care. Through strategic collaborations like this, we continue to strengthen the healthcare system and enhance treatment options for patients facing complex health challenges.' This strategic alliance aligns with Ebn Sina Medical's mission to enhance patient care by providing access to world-class medicinal products and supporting the evolving needs of Qatar's healthcare sector. General Manager, Middle East and North Africa Region at BeiGene, Mohammed Al Kapany commented: "At BeiGene, we are committed to expanding access to innovative and affordable cancer treatments for more patients around the world." "This partnership with Ebn Sina Medical reflects our shared goal of improving outcomes for people living with cancer in Qatar. Together, we're working to ensure that patients and healthcare providers have access to the high-quality therapies they need — where and when they need them.' © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
27-02-2025
- Business
- Zawya
Aamal signs an MoU between its subsidiary, Aamal Information Technology, and Huawei
Doha – Qatar: Aamal Company Q.P.S.C., one of the region's leading diversified companies announces a new Memorandum of Understanding (MoU) between its fully owned subsidiary, Aamal Information Technology, and Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices. The MoU took place on the sidelines of the Web Summit, which has recently took place in Doha. The partnership aims to enhance collaboration through Aamal IT's onboarding to the Huawei Cloud Partner Network and participation in the Cloud Service Provider Program. Aamal IT, a provider specializing in trading computer networking equipment, web development, IT consulting, software trading, and programming, will leverage Huawei's cutting-edge cloud technologies to drive mutual growth and deliver advanced cloud solutions to customers. This strategic partnership is set to empower organizations to thrive in an increasingly digital world. On this occasion, Mr. Rashid bin Ali Al Mansoori, CEO of Aamal Company Q.P.S.C., commented: 'Partnering with Huawei is a remarkable step forward in our journey to establish Aamal IT as a dynamic and innovative player in the technology sector. This collaboration will enable us to offer cutting-edge cloud solutions and strengthen our market position. We are excited about the opportunities this partnership will bring to our clients and our growth story.' The partnership between Huawei and Aamal IT is expected to accelerate the adoption of cloud technologies across industries, enabling businesses to optimize their operations and achieve digital transformation. For inquiries and more information: Aamal Company Q.P.S.C.: Laura Ackel Corporate Communications Specialist Email: Mobile: (+974 6671 6576) About Aamal Information Technology: Aamal has a 100% interest in Aamal Information Technology Aamal Information Technology was established in 2023, specialising in trading computer networking equipment, web development, IT consulting, software trading, and programming. About Aamal Company: Aamal is one of the Gulf region's most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 26 February 2025, the Company had a market capitalisation of QAR 6 bn (US$ 1.65 bn). Aamal's operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar's wider economic growth and development. For further information on Aamal Company, please refer to the corporate website:
Zawya
18-02-2025
- Automotive
- Zawya
Aamal's subsidiary, Aamal Trading & Distribution, awarded for its ‘Solutions and after Sales Services'
Doha – Qatar: Aamal Company Q.P.S.C., one of the region's leading diversified companies, is pleased to announce that its fully owned subsidiary, Aamal Trading & Distribution, an official distributor of Bridgestone tyres in Qatar, has been awarded the Global Award for the 'Solutions and after Sales Services' among all distributors at the global level. This prestigious recognition acknowledges Aamal Trading & Distribution as the most active user of the INSTA (In-Service Tyre Analysis) tool within the Bridgestone "Toolbox" platform for the year 2024. INSTA is a key feature of Bridgestone's Solutions business segment, delivered through its innovative digital application, 'Toolbox'. The award underscores Aamal Trading & Distribution's commitment to providing exceptional service and expertise to its customers in Qatar, ensuring the highest level of performance and safety in tyre solutions. On this occasion, Mr. Rashid bin Ali Al Mansoori, CEO of Aamal Company, commented: "We are proud of Aamal Trading & Distribution's achievement in receiving this esteemed Global Award from Bridgestone. This recognition highlights our team's unwavering dedication to excellence in the tyre sector and reinforces our position as a leader in providing advanced solutions and after-sales services. Our partnership with Bridgestone is a testament to the strength of our shared values of innovation, quality, and customer satisfaction." Mr. Sherif Shehata, Executive Director of the Trade sector of Aamal Company, added: 'Being recognized as the most active INSTA user globally is a great honor for our team. The success of our partnership with Bridgestone reflects our commitment to enhancing our customers' experience through cutting-edge technology and expert services. This award is a reflection of the hard work and dedication of our employees, and we look forward to continuing to deliver innovative solutions to our customers across Qatar." Aamal Trading & Distribution has consistently demonstrated its leadership in the Qatari market by embracing digital solutions to improve tyre management and maintenance services. The INSTA feature within Bridgestone's Toolbox platform has been instrumental in helping the company provide valuable insights to its customers, ensuring optimal tyre performance and extending the lifespan of vehicles across Qatar. -Ends- About Aamal Company Q.P.S.C. Aamal is one of the Gulf region's most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 13 February 2025, the Company had a market capitalisation of QAR 5.85 bn (US$ 1.6 bn). Aamal's operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar's wider economic growth and development. For further information on Aamal Company, please refer to the corporate website: Further Enquiries Laura Ackel – Corporate Communications Specialist E : About Aamal Trading & Distribution: Aamal Trading and Distribution has been an official distributor in Qatar of Bridgestone tyres since 1971 and a distributor of 'TotalEnergies' oil and lubricant products since 1990. The company is also involved in the supply and installation of all types of tyres. Aamal Trading and Distribution has several support services such as 'Total Tyre Care', a solution-based business offering after sales services, 'Dial a Tyre', offering customers roadside assistance and servicing, and 'Truck Assist Van', a fully loaded package of professional and skilled mobile services for truck tyres at the customer's doorstep.
